By OGJ editors
HOUSTON, July 10 -- Pan-Ocean Energy Corp. Ltd., St. Helier, Jersey, reported Wednesday that Houston-based Vaalco Gabon (Etame) Inc, operator of Etame field off Gabon, has temporarily shut in production from a second well, ET- 1VA, due to a malfunctioning downhole safety valve. The hydraulically operated valve malfunction is similar to that which caused a previous shut-in of the ET-3H well.
A remotely operated vehicle is scheduled to arrive at the field around July 13, at which time the cause of the malfunctions can be determined and remedial work undertaken to restore the wells to production.
The remaining production well in the Etame field, ET-4H, continues to produce 6,400 b/d of oil, and on July 4 and 5, the field's crude oil purchaser successfully lifted 608,000 bbl of oil from Etame's Petroleo Nautipa FPSO.
Since coming on stream in September 2002, Etame field has produced 4.3 million bbl of oil. The field is estimated to hold more than 150 million bbl OOIP, 30 million bbl of which is recoverable (OGJ Online, June 25, 2002).
Consortium members have completed the reprocessing of existing and recently acquired 3D seismic data covering Etame and adjacent areas. The partners are continuing to finalize an exploration and development plan for the block for the remainder of 2003-04, when two exploration wells and two development wells are expected to be drilled on the concession.
PanOcean owns a 31.36% working interest in Etame field, and Vaalco 28.07%. Other partners are Sasol Petroleum International (Pty.) Ltd., Johannesburg, 27.75%, the Gabon government's Energy Africa Ltd., Cape Town, 7.5%, Energy Resources Japan Etame (Gabon) Ltd. 2.98%, and PetroEnergy Resources Corp. 2.34%.